Groom principal and retirement services practice co-chair Michael Kreps was quoted in the Pensions & Investments article, “Retirement legislation to cool off after SECURE 2.0,” where he provided his outlook on retirement legislation in 2023.
When discussing the passing of the massive SECURE 2.0 bill and where retirement legislation may continue from there, Kreps explained, “Everything that they could find where there was bipartisan agreement made it into this bill.” He continued, “They didn’t leave a lot on the table. People always come up with new ideas and there will be new priorities, but with a new Republican leadership in the House with their own priorities, without Chairman (Richard) Neal driving a retirement agenda, it’s likely that retirement isn’t a front-burner issue, at least for a while.”
In exploring the newest ESG rule out of the DOL and its congressional opposition, Kreps stated, “For whatever reason, Republicans have decided that (opposition to ESG and climate regulation) is going to be an issue for them and they’re going to make it an issue so I suspect it will be a recurring theme throughout the next few years.”
To read the article, click here. For more information about SECURE 2.0, visit our SECURE Act Resource Hub.
